banks

Consumers’ Top 10 Complaints

Identity theft topped the list of fastest-growing complaints to state and local consumer protection agencies last year, according to the latest report from the annual survey conducted by Consumer Federation of America (CFA) and the North American Consumer Protection Investigators (NACPI). Thirty-seven consumer agencies from twenty-one states participated in the survey, which asked about...

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Citibank To Pay $700 Million To Consumers For Illegal Credit Card Practices

Millions of Consumers Harmed by Bank’s Deceptive Marketing and Unfair Billing of Credit Card Add-On Products and Services, and Other Unlawful Practices The Consumer Financial Protection Bureau (CFPB) has ordered Citibank, N.A. and its subsidiaries to provide an estimated $700 million in relief to eligible consumers harmed by illegal practices related to credit card...

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Feds Order Discover Bank To Pay $18.5 Million For Illegal Student Loan Servicing Practices

Discover’s Illegal Servicing Practices Affected Private Student Loan Borrowers Transferred from Citibank The Consumer Financial Protection Bureau (CFPB) has taken action against Discover Bank and its affiliates for illegal private student loan servicing practices. The CFPB found that Discover overstated the minimum amounts due on billing statements and denied consumers information they needed to...

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Feds Sue Auto Lender For Aggressive Debt Collection Tactics Against Servicemembers

Auto Loan Company Misled Servicemembers About Consequences of Nonpayment Today the Consumer Financial Protection Bureau (CFPB) sued an auto loan company, Security National Automotive Acceptance Company, for aggressive debt collection tactics against servicemembers. In a complaint filed in federal court, the CFPB alleges that the company used a combination of illegal threats and deceptive...

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